BENSALEM, Pa.--(BUSINESS WIRE)--Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of Florida on behalf of purchasers of the common stock of Altisource
Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ:ASPS)
between July 25, 2013 and August 4, 2014, inclusive (the “Class Period”).

Altisource operates as a marketplace and transaction solutions provider
for the real estate, mortgage and consumer debt industries in the United
States. The Complaint alleges that: (1) Altisource was charging
exorbitant fees to Ocwen Financial Corp., to enable defendants to funnel
as much as $65 million in questionable fees; (2) despite public
representations to the contrary, the Company’s chairman was personally
involved in approving conflicted transactions with Altisource and other
related entities which he controlled; (3) the Company failed to comply
with applicable laws and regulations, including lending regulations
designed to protect homeowners; (4) the Company's financial statements
during the Class Period were artificially inflated and did not provide a
fair presentation of the Company's finances and operations; (5) the
Company lacked adequate internal and financial controls; and (6) as a
result of the foregoing, the Company's financial statements were
materially false and misleading at all relevant times.

On August 4, 2014, news reports disclosed that New York’s Department of
Financial Services (“DFS”) was investigating whether the Company entered
into improper transactions with affiliated entities. According to the
DFS, it appears that Altisource entered into an arrangement with Ocwen
that will generate significant revenue from Ocwen’s new forced-place
arrangement while requiring little work on Altisource’s behalf.
Following this news, shares of Altisource declined nearly 15%, to a
closing price of $88.65 on August 4, 2014, on heavy volume.

If you are a member of the Class described above, you have until
November 7, 2014, to move the Court to serve as lead plaintiff, if you
meet certain legal requirements. To be a member of the Class you need
not take any action at this time; you may retain counsel of your choice
or take no action and remain an absent member of the Class. If you wish
to learn more about this action, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite
112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll
Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.